Bayer CropScience and World Bank’s International Finance Corporation formed partnership to support modernization of agriculture in Ukraine

Monheim/Kiev, 8-7-2013 — /europawire.eu/ — Bayer CropScience and the International Finance Corporation (IFC), a member of the World Bank Group, announced today an innovative partnership to support modernization of agriculture in Ukraine and help the country maximize its farming potential. Securing harvests and increasing agricultural productivity are key factors for global food security.

The new IFC advisory project “Sustainable Development of Small- and Medium-Scale Farmers in the Ukraine” is supported with funds from the Austrian Ministry of Finance. Bayer CropScience will help farmers gain broader access to agricultural knowledge, technologies and inputs such as improved seeds and innovative crop protection solutions. As a key private sector partner, the company aims to increase agricultural productivity at targeted farms, creating a demonstration example for the entire sector.

“The main goal is to achieve a more sustainable way of growing crops, in the quantities we need to help advance food security”, said Liam Condon, Bayer CropScience CEO, at the launch event in Kiev. “We are supporting farmers in the Ukraine and worldwide by providing them with tools, technology and training, helping to raise both agricultural productivity and environmental compatibility. This new partnership is another example of how Bayer CropScience leverages the potential of collaboration in modern agriculture.”

Jesper Kjaer, IFC’s Head of Advisory Services in Europe and Central Asia, said, “Small- and medium-scale farmers are farming around 60 percent of the agricultural land in Ukraine. Our new initiative aims to help them become more competitive and efficient so that they can increase production in a sustainable manner. Our work in Ukraine is part of our regional efforts to support development of the agribusiness which is one of the most important sectors for generating employment in the region.”

The six-year advisory project aims to upgrade and modernize the way agricultural production is carried out in Ukraine by making the most innovative technologies and high-tech solutions available to Ukrainian farmers. These solutions will also include sustainable farm management practices, remote crop sensing technologies and precision farming practices.

The new advisory partnership follows an earlier engagement during which IFC, Bayer and two leading Ukrainian commercial banks partnered to develop a risk-sharing facility to expand access to finance for Ukrainian farmers and make high-quality crop protection products more affordable for independent farmers and smaller agricultural companies.

IFC is committed to helping Ukraine maximize its agribusiness potential and has so far invested over US$ 600 million in the country’s farming sector. In agribusiness, IFC supports the entire value chain, from farm production to collection, processing and distribution. It also offers an extensive advisory program, including projects focused on improving food safety standards, maximizing resource efficiency and developing the agri-finance and agro-insurance market in Ukraine.

About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. This year the company looks back on 150 years of working to fulfill its mission “Bayer: Science For A Better Life”. Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,383 million (2012) and is one of the world’s leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high value seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 20,800 and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.

About IFC 
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, its investments reached an all-time high of more than US$ 20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.

Find more information at www.bayercropscience.com.

Forward-Looking Statements 
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